Christmas parties and gifts 2015
Christmas is on the way and many employers will be planning their annual year-end “bash”. In addition, many businesses will be considering what gifts, if any, they will provide to clients and employees. However, an important issue to consider is the possible FBT and income tax implications of providing “entertainment” to staff and clients.
Holiday rentals under the microscope
National Tax & Accountants’ Association Ltd The ATO has advised that it is sending letters to taxpayers in approximately 500 postcodes across Australia, reminding them to only claim the deductions they are entitled to, for the periods a holiday home is rented out, or is genuinely available for rent.
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